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By JETRO Los Angeles, Stefan Vos & Kentaro Funaki
The Business Technology Center, an incubator run by the County of Los Angeles, and JETRO signed a Memorandum of Understanding, initiating a cooperative effort between the two organizations. Using the MOU as a starting point, JETRO will work with BTC to bring Japanese startups into L.A. to be incubated at BTC facilities.
BTC will provide Japanese startups with a leg-up in the American market through first-rate mentoring by experts knowledgeable in nearly every field and their close connection with the Tech Coast Angeles and the Pasadena Angels, two of the largest Angel Investor networks in the region. BTC’s combination of experts, facilities and prudent management has gained the recognition of the National Business Incubator Association and BTC was used as an example of best practice in their 2004 publication. Moving into a foreign market is always difficult, especially for smaller companies with limited resources, so the guidance and expertise of the staff and advisors at BTC will be invaluable to the startups. The ultimate goal of both organizations is to have the startups be successful, contributing job growth in Los Angeles and opening new opportunities to Japanese companies.
Press Release from BTC:
On March 10th, 2008, The Business Technology Center of Los Angeles County (BTC), an incubator run by the Community Development Commission of Los Angeles County (CDC), and Japan External Trade Organization (JETRO) signed an agreement for mutual cooperation in the selection and subsidizing of early stage technology companies from Japan to be tenants at the Business Technology Center of Los Angeles.
With this agreement, JETRO will identify, interview and select qualified individuals or organizations that have the potential to grow into commercially viable businesses. Upon acceptance, the BTC will house and support the companies as tenant members with its full array of assistance and resources. JETRO will provide financial and advisory assistance for up to twelve months to "jump start" the companies through their incubation period at the BTC.
Keizo Tsuchiya, Chief Executive Director of JETRO Los Angeles when the agreement was signed stated, "We are very pleased about this agreement which further exhibits JETRO's commitment to its mission of promoting and assisting small to medium size Japanese firms in growing and maximizing their global presence and potential in Los Angeles County. JETRO is also excited to be working in cooperation with the BTC of Los Angeles County."
Mark Lieberman, Manager of Regional Economic Development, for the CDC, spearheaded the negotiations between the CDC and JETRO. According to Dr. Lieberman, "The arrangement with JETRO helps ensure that commercially viable Japanese 'start-ups' seeking to build their business in the United States will have a greater opportunity to grow and prosper in Los Angeles County, one of the largest metropolitan and economic areas in the US. The agreement between JETRO and the BTC will help expand and create local jobs and build economic growth in Los Angeles County."
JETRO, the Japan External Trade Organization, is a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO's core focus in the 21st century has shifted toward promoting foreign investments into Japan and assisting small to medium-sized Japanese firms maximize their global export potential. JETRO provides a wide-range of services, such as timely market intelligence, extensive business development support, and relevant business events, designed to encourage new business between American and Japanese companies.
The Business Technology Center is a business innovation center with a mission of assisting start-up and early stage technology firms grow and prosper in Los Angeles County. Opened in October 1998, the BTC is a 40,000 square foot secure facility with a state-of-the-art communication infrastructure. The BTC offers key professional support services, including access to capital, business consulting, and mentorship from an Advisory Committee with a wide range of skills, including professional and technology experience and networks in Los Angeles County and beyond.
The BTC is located close to the world famous Jet Propulsion Laboratory in Pasadena as well as The California Institute of Technology. More than 20 high technology tenants currently reside at the BTC with specialties ranging from software development to commercialization of federal laboratory technologies. BTC firms have successfully raised over $100 million to date from Angel and Venture Capital investors.
Shigeru Kimura
Chief Executive Director
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
www.jetro.org
213-624-6073
Mark Lieberman
Manger, Regional Economic Development
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www.lacdc.org
www.labtc.org
323-890-7110
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